New Delhi: The government will lift all restrictions on the export of all varieties of onion from March 15, according to an official notification released on Monday.
The Directorate General of Foreign Trade (DGFT) also announced removing the minimum export price (MEP) for outward shipments of the commodity whose prices have come down significantly recently and supplies have improved.
“The export of all varieties of onions has been made free without any condition of letter of credit and MEP, with effect from March 15, 2020,” the Directorate General of Foreign Trade (DGFT) said in a notification.
Farmers in several parts of Nashik district in Maharashtra agitated over falling onion prices, with an official informing that average per quintal price for Monday was Rs 1,450 at Lasalgaon, the country’s largest market for the kitchen staple.
Commerce and Industry Minister Piyush Goyal said that the decision will help boost the income of farmers.
The government last week decided to lift ban on export of onions in view of projected sharp fall in prices due to bumper rabi crop.
In September 2019, the government banned onion exports and also imposed an MEP of USD 850 per tonne. The move came after prices started skyrocketing due to supply-demand mismatch.